Stock index Dow Jones continue to move within the framework of the correction and the formation of the «Triangle» model. At the time of the publication of the forecast, the index is trading at 26684. Moving averages indicate an uptrend. At the moment, we should expect an attempt to grow and test the resistance level near the area of 26815. Where is the rebound expected and the continuation of the fall of the Dow Jones stock index quotes to the area below 26055.
Dow Jones Index Forecast and Analysis June 26, 2019
In favor of falling stock index quotes, a test of the downward trend line on the relative strength index (RSI) will be made. The second signal will be a rebound from the upper limit of the model «Triangle». Cancellation of the drop in the index quotes will be a strong growth and a breakdown of the 27005. This will indicate a breakdown of the resistance level and continued growth of Dow Jones with a target above the level of 28300. Wait for the fall of the quotes to accelerate with the breakdown of the lower channel of the rising channel and closing below the level of 26355.
Dow Jones Index Forecast and Analysis June 26, 2019 suggests an attempt to test the resistance level near the 26815 area. Then, the continuation of falling to the area below the 26055 level will take place. The test of the trend line on the relative strength index (RSI) will be in favor of the Dow Jones falling prices. Cancellation of the fall option will be a strong growth and the breakdown of the area of 27005. This will indicate a continuation of the rise with a target above the level of 28300.